MA The art of Trading MAs | Forex indicator download - MT4/MT5 resources

I have always liked the simplicity of MAs and started using them when I first started trading with a lot of success, but over time I moved on to other methods because I had a hard time filtering out the bad crossovers - aka the ones where you would only make a few pips or lose a few pips. If people want an easy to use approach without too much smoke and mirrors, if you don't like it don't trade it, if you have sarcastic comments I don't want to hear them, if you want to contribute please do so. I also hope everyone will at least respect each other on this topic.

The focus of this thread is to teach a very simple method of trading moving averages. The setup is very simple, I use 5 and 13 EMA and COG indicator. I use the COG indicator to filter out bad EMA crossovers.

I'm primarily a technical day trader, trading hourly charts, but I may stay on for a few days if a trade looks promising. I actively trade 9 currency pairs, so I have at least 3-4 good setups every day that can bring in a few hundred pips per day. I don't trade around major news events, I tend to focus my trades. I usually don't set a stop loss unless I'm going to be away for a while, if I do I just set my stop loss to 20 - 50 pips depending on the currency pair I'm trading, 50 for GBP/JPY and 20 for the rest. I don't want to hear all the crap about setting stops etc, I think stops are a good thing but if you choose your entry points well and watch your trades you can save yourself a lot of money. This method works for any time frame from 5 minutes to daily. To answer the inevitable question: Why don't I trade on the daily or weekly charts that best suit my personality, you have to remember that in my opinion, trading is more about people than systems.

My money management system is as follows, I only trade what I'm willing to lose, I intentionally keep my account balance low so that I don't want to do stupid things, and I get to have fun doing it. Trading is something I really enjoy, for those who are just there to make money fast, no system can help you, you have to treat it as a business and if you love what you do it will help. If I lose a few hundred dollars on a big trade, you lose something but win a lot.

The settings are as follows:

Buy:
The bar closed below the bottom green line on COG, followed by the 5/13 EMA crossover. You can close your position at the next EMA cross or wait for the price to move to the opposite side of the COG indicator

sell:
The bar chart closed above the COG top green line, followed by the 5/13 EMA crossover. You can close the trade at the next EMA cross or wait for the price to move to the opposite side of the COG indicator.

I've attached the gbpjpy trade I'm currently doing along with the COG indicator.